ICL Group (NYSE:ICL) Price Target Lowered to $6.00 at Barclays

Key Points

• Barclays lowered ICL Group’s price target from $7.00 to $6.00 while maintaining an “equal weight” rating, implying approximately 13.74% upside from the reported current price.
• Analyst sentiment remains cautious, with ICL Group carrying an average “Hold” rating and a consensus price target of $6.00.
• ICL reported quarterly EPS of $0.11, beating estimates by $0.01, while revenue of $2.02 billion exceeded expectations of $1.92 billion.

ICL Group (NYSE:ICL - Get Free Report) had its target price reduced by stock analysts at Barclays from $7.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the basic materials company's stock. Barclays's target price would suggest a potential upside of 13.74% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen upgraded shares of ICL Group from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Weiss Ratings raised shares of ICL Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ICL Group has an average rating of "Hold" and a consensus price target of $6.00.

ICL Group Trading Down 0.1%

Shares of ICL stock opened at $5.28 on Monday. The company has a market cap of $6.81 billion, a P/E ratio of 26.38 and a beta of 0.97. The stock has a 50 day simple moving average of $5.54 and a two-hundred day simple moving average of $5.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 1.38. ICL Group has a fifty-two week low of $4.76 and a fifty-two week high of $6.97.

ICL Group (NYSE:ICL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $1.92 billion. ICL Group had a return on equity of 7.84% and a net margin of 3.52%. Research analysts forecast that ICL Group will post 0.43 earnings per share for the current year.

Institutional Trading of ICL Group

Several institutional investors have recently made changes to their positions in ICL. Farther Finance Advisors LLC increased its stake in ICL Group by 351.2% in the 4th quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company's stock valued at $30,000 after buying an additional 4,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ICL Group during the fourth quarter valued at approximately $38,000. Boothbay Fund Management LLC bought a new stake in ICL Group during the fourth quarter worth $59,000. Sei Investments Co. bought a new stake in ICL Group during the first quarter worth $54,000. Finally, Thrivent Financial for Lutherans purchased a new position in ICL Group in the second quarter worth $72,000. Institutional investors own 13.38% of the company's stock.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange NYSE: ICL. The company's origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL's core operations are organized into three principal business areas.

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